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BERKELEY, Calif. - Caribou Biosciences , Inc. (NASDAQ:CRBU) saw its shares climb 3.2% after the clinical-stage CRISPR genome-editing biopharmaceutical company reported a narrower-than-expected loss for the fourth quarter of 2024.
The company posted a Q4 loss of $0.39 per share, beating analyst estimates of a $0.42 per share loss. Revenue for the quarter came in at $2.08 million, slightly below the consensus estimate of $2.12 million and down from $3.6 million in the same quarter last year.
Caribou ended 2024 with $249.4 million in cash, cash equivalents, and marketable securities, which it expects will fund operations into the second half of 2026.
The company is advancing four clinical programs for hematologic malignancies and autoimmune diseases. It anticipates two key clinical data readouts in the first half of 2025, including results from the ANTLER Phase 1 trial of CB-010 in second-line large B cell lymphoma and initial data from the CaMMouflage Phase 1 trial of CB-011 in relapsed or refractory multiple myeloma.
"We expect to present data from the ANTLER Phase 1 trial of CB-010 in patients with second-line large B cell lymphoma and our goal for this program is to develop an allogeneic CAR-T cell therapy that can drive outcomes on par with those achieved by autologous CAR-T cell therapies," said Rachel Haurwitz, PhD, Caribou’s president and CEO.
For the full year 2024, Caribou reported a net loss of $149.1 million, wider than the $102.1 million loss in 2023. The increased loss was primarily due to higher research and development expenses as the company advanced its pipeline programs.
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